FelCor Sells Embassy Suites Nashville and New Orleans for $70M

FelCor Lodging Trust Incorporated FCH today announced that it sold the 370-room Embassy Suites – New Orleans-Convention Center and the 296-room Embassy Suites – Nashville-Airport for an aggregate purchase price of $70 million. FelCor is using the net proceeds to pay the remaining $37.7 million of accrued preferred dividends and to repay debt.